Facebook announced Friday that it's buying Giphy, makers of the popular GIF generator website. Financial terms of the deal were not disclosed officially, but some outlets are valuing the acquisition at around $400 million.
Facebook plans to integrate Giphy with Instagram, making it easier for users to embed GIFs and stickers in Stories and direct messages. Giphy is expected to retain its own branding and its APIs and GIF database will remain openly available to a wider ecosystem.
Facebook VP of product Vishal Shah said in the announcement that 50% of Giphy's traffic already comes from the Facebook family of apps, and half of that just from Instagram.
"We've used Giphy's API for years, not just in Instagram, but in the Facebook app, Messenger and WhatsApp," Shah said. "Giphy will continue to operate its library (including its global content collection), and we're looking forward to investing further in its technology and relationships with content and API partners. People will still be able to upload GIFs; developers and API partners will continue to have the same access to Giphy's APIs; and Giphy's creative community will still be able to create great content."